Chicago aor

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Chicago aor

  1. 1. RE Tech Con CHICAGOLAND 2010 Peter Krause Co-Founder Terradatum
  2. 2. RE Tech Con CHICAGOLAND 2010 Understanding & Communicating Market Data
  3. 3. What Consumers Really Want? <ul><li>Relevant Information </li></ul><ul><ul><li>Supplied by a trusted source </li></ul></ul><ul><ul><li>Timely, Accurate and Actionable </li></ul></ul><ul><ul><li>Interpreted – “What does it all mean?” </li></ul></ul><ul><ul><li>Accessed anytime </li></ul></ul><ul><ul><li>Accessed anywhere </li></ul></ul><ul><li>In short, they want it all! </li></ul>
  4. 4. The Information Hierarchy <ul><li>Data – these are the raw facts </li></ul><ul><li>Information - data with context </li></ul><ul><li>Knowledge – information that is interpreted and meaningful </li></ul><ul><li>Insight – the application of knowledge from a forward thinking perspective </li></ul>
  5. 5. What’s Time Got to Do With It? <ul><li>Data & Information – look to the past </li></ul><ul><li>Knowledge – looks to the present; past experience brought to bear on new situations </li></ul><ul><li>Insight – looks to apply knowledge towards future situations, i.e. intelligent forecasting without being clairvoyant </li></ul>
  6. 6. Back to the Basics <ul><li>MLS membership gives you a unique and privileged position from which to view your market </li></ul><ul><li>So use it to preview & track prices for all properties in your service area </li></ul><ul><ul><li>Preview – means an actual site visit </li></ul></ul><ul><ul><li>Price Tracking – let’s you compare your initial opinions with reality; there is simply no better way to calibrate price </li></ul></ul>
  7. 7. The Power of Visual Information <ul><li>Important relationships are easier to “see” and comprehend visually </li></ul><ul><ul><li>“ a picture is worth a 1000 words”... </li></ul></ul><ul><li>Visual “talking points” create a much more meaningful context for your market “story” </li></ul><ul><ul><li>Clients can effectively “walk a mile in your shoes”… </li></ul></ul>
  8. 8. The New Information Paradigm <ul><li>Good Information > Good Decisions </li></ul><ul><li>Good Decisions > Good Outcomes </li></ul><ul><li>Good Outcomes > Happy Clients </li></ul><ul><li>Happy Clients > Good Business </li></ul>
  9. 9. AgentMetrics® <ul><li>FREE to MRED Members </li></ul>

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